Because of Weight Watchers, Oprah Winfrey became $ 24 million lighter.
The TV and lifestyle mogul had last year bought a 10 percent stake in the weight loss company for $ 43.2 million, joined the company’s board of directors, became a spokesmodel for the brand and began its diet plan. Weight Watchers International had hoped Winfrey’s collaboration could help boost subscription numbers and sales.
But on Thursday, the company reported a 21 percent drop in fourth-quarter net revenue, which sent its shares down more than 27 percent in extended trading. As a result, the paper value of Winfrey’s stake plunged by about $ 24 million, Reuters reported. However, she has still gained almost $ 75 million since she made her investment, the news wire added.
If Winfrey sold all her Weight Watchers shares today, her net worth would fall less than 1 percent. She is worth $ 3 billion, according to Forbes.
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On the day Winfrey first invested in Weight Watchers, its shares doubled in value, while she made $ 70 million in just a day and also single-handedly generated $ 700 million in stock market value in two days, Forbes had reported.
Winfrey often promotes Weight Watchers on social media. In January, after she tweeted a video saying she lost 26 pounds on the diet program while still eating bread every day, company stocks rallied more than 16 percent and she made $ 12 million.
Winfrey’s BFF Gayle King also began Weight Watchers’ diet plan, last September. Last week, she posted on her Instagram page a photo of her scale showing 159.2 pounds, showing she has lost more than 25 pounds.
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